Enova International (ENVA) 10-Q 24 Jul 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Jul. 22, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Registrant Name	Enova International, Inc.
Entity Central Index Key	0001529864
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Title of 12(b) Security	Common Stock, $.00001 par value per share
Trading Symbol	ENVA
Name of Exchange of which registered	NYSE
Entity Common Stock, Shares Outstanding		26,396,374
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	1-35503
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3190813
Entity Address, Address Line One	175 West Jackson Blvd.
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60604
City Area Code	312
Local Phone Number	568-4200
Document Quarterly Report	true
Document Transition Report	false

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Assets
Cash and cash equivalents	[1]	$ 60,138	$ 54,357	$ 100,042
Restricted cash	[1]	211,167	323,082	161,619
Loans and finance receivables at fair value	[1]	3,939,159	3,629,167	3,092,445
Income taxes receivable		68,732	44,129	32,653
Other receivables and prepaid expenses	[1]	71,172	71,982	57,758
Property and equipment, net		115,061	108,705	99,073
Operating lease right-of-use assets		13,180	14,251	16,488
Goodwill		279,275	279,275	279,275
Intangible assets, net		14,978	19,005	23,032
Other assets	[1]	44,229	41,583	45,522
Total assets		4,817,091	4,585,536	3,907,907
Liabilities and Stockholders’ Equity
Accounts payable and accrued expenses	[1]	333,972	261,156	229,315
Operating lease liabilities		26,511	27,042	28,384
Deferred tax liabilities, net		114,959	113,350	103,852
Long-term debt	[1]	3,194,121	2,943,805	2,297,026
Total liabilities		3,669,563	3,345,353	2,658,577
Commitments and contingencies (Note 7)
Stockholders’ equity:
Common stock, $0.00001 par value, 250,000,000 shares authorized, 46,373,689, 45,070,929 and 45,339,814 shares issued and 26,498,011, 30,869,886 and 29,089,258 outstanding as of June 30, 2024 and 2023 and December 31, 2023, respectively		0	0	0
Preferred stock, $0.00001 par value, 25,000,000 shares authorized, no shares issued and outstanding		0	0	0
Additional paid in capital		308,481	284,256	266,058
Retained earnings		1,590,645	1,488,306	1,412,253
Accumulated other comprehensive loss		(10,749)	(6,264)	(5,988)
Treasury stock, at cost (19,875,678, 14,201,043 and 16,250,556 shares as of June 30, 2024 and 2023 and December 31, 2023, respectively)		(740,849)	(526,115)	(422,993)
Total stockholders' equity		1,147,528	1,240,183	1,249,330
Total liabilities and stockholders’ equity		$ 4,817,091	$ 4,585,536	$ 3,907,907
[1] Includes amounts in wholly-owned, bankruptcy-remote special purpose subsidiaries (“VIEs”) presented separately in the table below.

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Statement of Financial Position [Abstract]
Common stock, par value per share	$ 0.00001	$ 0.00001	$ 0.00001
Common stock, shares authorized	250,000,000	250,000,000	250,000,000
Common stock, shares issued	46,373,689	45,339,814	45,070,929
Common stock, shares outstanding	26,498,011	29,089,258	30,869,886
Preferred stock, par value per share	$ 0.00001	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	25,000,000	25,000,000	25,000,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Treasury Stock, Shares	19,875,678	16,250,556	14,201,043

CONSOLIDATED BALANCE SHEETS (Co

CONSOLIDATED BALANCE SHEETS (Consolidated VIEs) (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Assets of consolidated VIEs, included in total assets above
Cash and cash equivalents	[1]	$ 60,138	$ 54,357	$ 100,042
Restricted cash	[1]	211,167	323,082	161,619
Loans and finance receivables at fair value	[1]	3,939,159	3,629,167	3,092,445
Other receivables and prepaid expenses	[1]	71,172	71,982	57,758
Other assets	[1]	44,229	41,583	45,522
Total assets		4,817,091	4,585,536	3,907,907
Liabilities of consolidated VIEs, included in total liabilities above
Accounts payable and accrued expenses	[1]	333,972	261,156	229,315
Long-term debt	[1]	3,194,121	2,943,805	2,297,026
Total liabilities		3,669,563	3,345,353	2,658,577
Variable Interest Entity, Primary Beneficiary
Assets of consolidated VIEs, included in total assets above
Cash and cash equivalents		470	315	316
Restricted cash		195,070	135,980	145,817
Loans and finance receivables at fair value		2,927,128	2,656,049	1,983,133
Other receivables and prepaid expenses		39	6,792	899
Other assets		8,836	6,915	7,057
Total assets		3,131,543	2,806,051	2,137,222
Liabilities of consolidated VIEs, included in total liabilities above
Accounts payable and accrued expenses		14,290	10,469	9,254
Long-term debt		2,014,230	1,661,823	1,478,619
Total liabilities		$ 2,028,520	$ 1,672,292	$ 1,487,873
[1] Includes amounts in wholly-owned, bankruptcy-remote special purpose subsidiaries (“VIEs”) presented separately in the table below.

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue	$ 628,436	$ 499,431	$ 1,238,325	$ 982,687
Change in Fair Value	(258,245)	(200,046)	(522,268)	(397,412)
Net Revenue	370,191	299,385	716,057	585,275
Operating Expenses
Marketing	120,765	95,971	231,332	175,726
Operations and technology	54,953	46,961	109,332	96,130
General and administrative	39,708	36,228	79,573	73,386
Depreciation and amortization	9,709	8,629	19,972	19,169
Total Operating Expenses	225,135	187,789	440,209	364,411
Income from Operations	145,056	111,596	275,848	220,864
Interest expense, net	(70,954)	(45,584)	(136,551)	(88,905)
Foreign currency transaction loss	(19)		(67)	(171)
Equity method investment loss		(1,119)		(1,125)
Other nonoperating expenses	(521)	(121)	(1,013)	(254)
Income before Income Taxes	73,562	64,772	138,217	130,409
Provision for income taxes	19,651	16,627	35,878	31,341
Net income	$ 53,911	$ 48,145	$ 102,339	$ 99,068
Earnings per common share:
Basic	$ 2	$ 1.55	$ 3.71	$ 3.17
Diluted	$ 1.93	$ 1.5	$ 3.56	$ 3.05
Weighted average common shares outstanding:
Basic	26,938	31,084	27,567	31,212
Diluted	27,941	32,203	28,722	32,456

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income		$ 53,911	$ 48,145	$ 102,339	$ 99,068
Other comprehensive (loss) gain, net of tax:
Foreign currency translation (loss) gain	[1]	(3,515)	1,349	(4,485)	2,309
Unrealized loss on investments, net of tax					(2,307)
Total other comprehensive (loss) income, net of tax		(3,515)	1,349	(4,485)	2
Comprehensive Income		$ 50,396	$ 49,494	$ 97,854	$ 99,070
[1] Net of tax benefit (provision) of $ 1,113 and $ ( 426 ) for the three months ended June 30, 2024 and 2023 , respectively, and $ 1,432 and $ ( 731 ) for the six months ended June 30, 2024 and 2023 , respectively.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Tax benefit (provision) of foreign currency translation (loss) gain	$ 1,113	$ (426)	$ 1,432	$ (731)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Balance at Dec. 31, 2022	$ 1,186,145		$ 251,878	$ 1,313,185	$ (5,990)	$ (372,928)
Balance, in shares at Dec. 31, 2022		44,327,000				(13,106,000)
Stock-based compensation expense	12,205		12,205
Shares issued for vested RSUs, in shares		595,000
Shares issued for stock option exercises	1,975		1,975
Shares issued for stock option exercises, in shares		149,000
Net income	99,068			99,068
Unrealized loss on investments, net of tax	(2,307)				(2,307)
Foreign currency translation (loss) gain, net of tax	2,309				2,309
Purchases of treasury shares, at cost	(50,065)					$ (50,065)
Purchases of treasury shares, at cost, in shares						(1,095,000)
Balance at Jun. 30, 2023	$ 1,249,330		266,058	1,412,253	(5,988)	$ (422,993)
Balance, in shares at Jun. 30, 2023	45,070,929	45,071,000				(14,201,000)
Balance at Mar. 31, 2023	$ 1,220,753		258,806	1,364,108	(7,337)	$ (394,824)
Balance, in shares at Mar. 31, 2023		44,918,000				(13,583,000)
Stock-based compensation expense	6,236		6,236
Shares issued for vested RSUs, in shares		85,000
Shares issued for stock option exercises	1,016		1,016
Shares issued for stock option exercises, in shares		68,000
Net income	48,145			48,145
Foreign currency translation (loss) gain, net of tax	1,349				1,349
Purchases of treasury shares, at cost	(28,169)					$ (28,169)
Purchases of treasury shares, at cost, in shares						(618,000)
Balance at Jun. 30, 2023	$ 1,249,330		266,058	1,412,253	(5,988)	$ (422,993)
Balance, in shares at Jun. 30, 2023	45,070,929	45,071,000				(14,201,000)
Balance at Dec. 31, 2023	$ 1,240,183		284,256	1,488,306	(6,264)	$ (526,115)
Balance, in shares at Dec. 31, 2023	45,339,814	45,340,000				(16,251,000)
Stock-based compensation expense	$ 15,403		15,403
Shares issued for vested RSUs, in shares		608,000
Shares issued for stock option exercises	8,822		8,822
Shares issued for stock option exercises, in shares		426,000
Net income	102,339			102,339
Foreign currency translation (loss) gain, net of tax	(4,485)				(4,485)
Purchases of treasury shares, at cost	(214,734)					$ (214,734)
Purchases of treasury shares, at cost, in shares						(3,625,000)
Balance at Jun. 30, 2024	$ 1,147,528		308,481	1,590,645	(10,749)	$ (740,849)
Balance, in shares at Jun. 30, 2024	46,373,689	46,374,000				(19,876,000)
Balance at Mar. 31, 2024	$ 1,150,211		298,191	1,536,734	(7,234)	$ (677,480)
Balance, in shares at Mar. 31, 2024		46,193,000				(18,844,000)
Stock-based compensation expense	7,764		7,764
Shares issued for vested RSUs, in shares		67,000
Shares issued for stock option exercises	2,526		2,526
Shares issued for stock option exercises, in shares		114,000
Net income	53,911			53,911
Foreign currency translation (loss) gain, net of tax	(3,515)				(3,515)
Purchases of treasury shares, at cost	(63,369)					$ (63,369)
Purchases of treasury shares, at cost, in shares						(1,032,000)
Balance at Jun. 30, 2024	$ 1,147,528		$ 308,481	$ 1,590,645	$ (10,749)	$ (740,849)
Balance, in shares at Jun. 30, 2024	46,373,689	46,374,000				(19,876,000)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash Flows from Operating Activities
Net income	$ 102,339	$ 99,068
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	19,972	19,169
Amortization of deferred loan costs and debt discount	6,972	4,182
Change in fair value of loans and finance receivables	518,086	393,181
Stock-based compensation expense	15,403	12,205
Loss on early extinguishment of debt	1,013	271
Operating leases, net	540	(2,352)
Deferred income taxes, net	3,041	(1,047)
Changes in operating assets and liabilities:
Finance and service charges on loans and finance receivables	(4,916)	(1,873)
Other receivables and prepaid expenses and other assets	2,089	18,905
Accounts payable and accrued expenses	11,445	5,522
Current income taxes	33,521	34,108
Net cash provided by operating activities	709,505	581,339
Cash Flows from Investing Activities
Loans and finance receivables originated or acquired	(2,583,017)	(1,891,926)
Loans and finance receivables repaid	1,755,379	1,429,097
Capitalization of software development costs and purchases of fixed assets	(22,312)	(20,648)
Net cash used in investing activities	(849,950)	(483,477)
Cash Flows from Financing Activities
Borrowings under revolving line of credit	316,000	117,000
Repayments under revolving line of credit	(253,000)	(160,000)
Borrowings under securitization facilities	1,001,895	514,821
Repayments under securitization facilities	(643,976)	(364,678)
Repayments of senior notes	(168,702)	(69,461)
Debt issuance costs paid	(11,146)	(4,661)
Proceeds from exercise of stock options	8,822	1,975
Treasury shares purchased	(214,734)	(50,065)
Net cash provided by (used in) financing activities	35,159	(15,069)
Effect of exchange rates on cash, cash equivalents and restricted cash	(848)	468
Net (decrease) increase in cash, cash equivalents and restricted cash	(106,134)	83,261
Cash, cash equivalents and restricted cash at beginning of year	377,439	178,400
Cash, cash equivalents and restricted cash at end of period	271,305	261,661
Supplemental Disclosures
Non-cash renewal of loans and finance receivables	$ 180,041	$ 255,966

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 53,911	$ 48,145	$ 102,339	$ 99,068

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10B5 Arr Modified Flag	false
Non-Rule 10b5-1 Arrangement Modified	false

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	1. Signifi cant Accou nting Policies Nature of the Company Enova International, Inc. and its subsidiaries (collectively, the “Company”) operate an internet-based lending platform to serve customers in need of cash to fulfill their financial responsibilities. Through a network of direct and indirect marketing channels, the Company offers funds to its customers through a variety of loan and finance receivable products that are primarily unsecured. The business is operated primarily through the internet to provide convenient, fully-automated financial solutions to its customers. The Company provides financing to small businesses through either installment loans or line of credit accounts and originates, guarantees or purchases consumer installment loans and line of credit accounts. The Company also provides services related to third-party lenders’ consumer loan products in some markets by acting as a credit services organization or credit access business on behalf of consumers in accordance with applicable state laws (“CSO program”). Basis of Presentation The consolidated financial statements of the Company included herein have been prepared on the basis of accounting principles generally accepted in the United States (“GAAP”) and reflect the historical results of operations and cash flows of the Company during each respective period. The consolidated financial statements include goodwill and intangible assets arising from businesses previously acquired. The financial information included herein may not be indicative of the consolidated financial position, operating results, changes in stockholders’ equity and cash flows of the Company in the future. Intercompany transactions are eliminated. The Company consolidates any VIE where it has been determined it is the primary beneficiary. The primary beneficiary is the entity which has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance as well as the obligation to absorb losses or receive benefits of the entity that could potentially be significant to the VIE. The consolidated financial statements presented as of June 30, 2024 and 2023 and for the three and six-month periods ended June 30, 2024 and 2023 are unaudited but, in management’s opinion, include all adjustments necessary for a fair presentation of the results for such interim periods. Operating results for the three and six-month periods are not necessarily indicative of the results that may be expected for the full fiscal year. These consolidated financial statements and related notes should be read in conjunction with the Company’s audited consolidated financial statements as of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 and related notes, which are included on Form 10-K filed with the SEC on February 23, 2024 . Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheets (in thousands): June 30, 2024 2023 Cash and cash equivalents $ 60,138 $ 100,042 Restricted cash 211,167 161,619 Total cash, cash equivalents and restricted cash $ 271,305 $ 261,661 Loans and Finance Receivables The Company utilizes the fair value option on its entire loan and finance receivable portfolio. As such, loans and finance receivables are carried at fair value in the consolidated balance sheet with changes in fair value recorded in the consolidated income statement. To derive the fair value, the Company generally utilizes discounted cash flow analyses that factor in estimated losses, prepayments, utilization rates and servicing costs over the estimated duration of the underlying assets. Loss, prepayment, utilization and servicing cost assumptions are determined using historical data and include appropriate consideration of recent trends and anticipated future performance. Future cash flows are discounted using a rate of return that the Company believes a market participant would require. Accrued and unpaid interest and fees are included in “Loans and finance receivables at fair value” in the consolidated balance sheets. If a loan is renewed or refinanced, the renewal or refinanced loan is considered a new loan. The Company generally does not consider modifications that do not necessitate the customer to sign a new loan agreement to be new loans. Current and Delinquent Loans and Finance Receivables The Company classifies its loans and finance receivables as either current or delinquent. When a customer does not make a scheduled payment in full as of the due date, the receivable is considered delinquent. For the OnDeck portfolio, there is no accrual of interest income on loans when the customer misses their most recent payment. Excluding the OnDeck portfolio, there is no accrual of interest income on loans when a customer falls more than one payment behind. Loans may be returned to accrual status if the customer rectifies and the loan no longer meets non-accrual criteria. The Company allows for normal payment processing time before considering a loan delinquent but does not provide for any additional grace period. The Company offers certain forbearance options on its loan products with features such as payment deferrals without the incurrence of additional finance charges or late fees. If a loan is deemed to be current and the customer makes a deferral or payment modification, the loan is still deemed to be current until the next scheduled payment is missed. For the consumer portfolio, the Company generally charges off a loan or finance receivable when it becomes 65 days delinquent. If deemed uncollectible prior to this, it is charged off at that point. For the small business portfolio, the Company generally charges off a loan or finance receivable when it is probable that it will be unable to collect all of the remaining principal payments, which is generally after 90 days of delinquency and 30 days of non-activity. Recoveries on loans and finance receivables that were previously charged off are generally recognized when collected or sold. Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. In accordance with Accounting Standards Codification (“ASC”) 350, Goodwill , the Company tests goodwill and intangible assets with an indefinite life for potential impairment annually as of October 1 and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value below its carrying amount. The Company first assesses qualitative factors to determine whether it is necessary to perform the quantitative goodwill impairment test. In assessing the qualitative factors, management considers relevant events and circumstances including but not limited to macroeconomic conditions, industry and market environment, overall financial performance of the Company, cash flow from operating activities, market capitalization and stock price. If the Company determines that the quantitative impairment test is required, management uses the income approach to complete its annual goodwill assessment. The income approach uses future cash flows and estimated terminal values for the Company that are discounted using a market participant perspective to determine the fair value, which is then compared to the carrying value to determine if there is impairment. The income approach includes assumptions about revenue growth rates, operating margins and terminal growth rates discounted by an estimated weighted-average cost of capital derived from other publicly-traded companies that are similar but not identical from an operational and economic standpoint. Revenue Recognition The Company recognizes revenue based on the financing products and services it offers and on loans it acquires. “Revenue” in the consolidated statements of income primarily includes interest income, statement and draw fees on line of credit accounts, fees for services provided through the Company’s CSO program (“CSO fees”), revenue on receivables purchase agreements (“RPAs”), origination fees, and other fees as permitted by applicable laws and pursuant to the agreement with the customer. Interest income is generally recognized on an effective yield basis over the contractual term of the loan on installment loans or the estimated outstanding period of the draw on line of credit accounts. Statement fees on line of credit accounts are similar to interest charges and are generally recognized similarly to interest income. Draw fees on line of credit accounts are generally recognized at the time of draw. Revenue on RPAs is recognized over the projected delivery term of the agreement. CSO fees are recognized over the term of the loan. Origination fees are charged to customers on certain installment loan products and are recognized upon origination. Marketing Expenses Marketing expenses consist of digital costs, lead purchase costs and offline marketing costs such as television and direct mail advertising. All marketing expenses are expensed as incurred. Equity Method Investments On February 24, 2021, the Company contributed the platform-as-service business assumed in the OnDeck acquisition to Linear Financial Technologies Holding LLC (“Linear”) in exchange for ownership units in that entity. The Company records its interest in Linear under the equity method of accounting. As of June 30, 2024 and 2023 and December 31, 2023, the carrying value of the Company’s investment in Linear was $ 16.1 million, $ 16.0 million and $ 16.1 million, respectively, which the Company has included in “Other assets” on the consolidated balance sheets. In December 2021, the Company sold a portion of its interest in On Deck Capital Australia PTY LTD (“OnDeck Australia”). Prior to this, the Company had consolidated the financial position and results of operations of OnDeck Australia under the voting interest model. Subsequent to the transaction, the Company owns a 20 % equity interest in OnDeck Australia and no longer has control over the entity; as such, the Company has deconsolidated OnDeck Australia from its financial statements and now records its interest under the equity method of accounting. As of June 30, 2024 and 2023 and December 31, 2023 , the Company's investment in OnDeck Australia had no carrying value. Equity method income has been included in “Equity method investment loss” in the consolidated income statements. Variable Interest Entities As part of the Company’s overall funding strategy and as part of its efforts to support its liquidity from varying sources, the Company has established a securitization program through several securitization facilities. The Company transfers certain loan receivables to VIEs, which issue notes backed by the underlying loan receivables and are serviced by another wholly-owned subsidiary of the Company. The cash flows from the loans held by the VIEs are used to repay obligations under the notes. The Company is required to evaluate the VIEs for consolidation. The Company has the ability to direct the activities of the VIEs that most significantly impact the economic performance of the entities as the servicer of the securitized loan receivables. Additionally, the Company has the right to receive residual payments, which expose it to potentially significant losses and returns. Accordingly, the Company determined it is the primary beneficiary of the VIEs and is required to consolidate them. The assets and liabilities related to the VIEs are included in the Company’s consolidated financial statements and are accounted for as secured borrowings.

Loans and Finance Receivables

Loans and Finance Receivables	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Loans and Finance Receivables	2. Loans and Finance Receivables Revenue generated from the Company’s loans and finance receivables for the three and six months ended June 30, 2024 and 2023 was as follows (dollars in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Consumer loans and finance receivables revenue $ 367,558 $ 302,264 $ 732,289 $ 583,275 Small business loans and finance receivables revenue 251,782 190,459 488,259 384,915 Total loans and finance receivables revenue 619,340 492,723 1,220,548 968,190 Other 9,096 6,708 17,777 14,497 Total revenue $ 628,436 $ 499,431 $ 1,238,325 $ 982,687 Loans and Finance Receivables at Fair Value The components of Company-owned loans and finance receivables at June 30, 2024 and 2023 and December 31, 2023 were as follows (dollars in thousands): As of June 30, 2024 Small Consumer Business Total Principal balance - accrual $ 1,056,193 $ 2,098,129 $ 3,154,322 Principal balance - non-accrual 120,534 148,796 269,330 Total principal balance 1,176,727 2,246,925 3,423,652 Accrued interest and fees 109,028 37,046 146,074 Loans and finance receivables at fair value - accrual 1,398,890 2,455,039 3,853,929 Loans and finance receivables at fair value - non-accrual 22,924 62,306 85,230 Loans and finance receivables at fair value $ 1,421,814 $ 2,517,345 $ 3,939,159 Difference between principal balance and fair value $ 245,087 $ 270,420 $ 515,507 As of June 30, 2023 Small Consumer Business Total Principal balance - accrual $ 889,545 $ 1,616,953 $ 2,506,498 Principal balance - non-accrual 93,843 156,601 250,444 Total principal balance 983,388 1,773,554 2,756,942 Accrued interest and fees 85,354 15,261 100,615 Loans and finance receivables at fair value - accrual 1,159,607 1,855,793 3,015,400 Loans and finance receivables at fair value - non-accrual 8,437 68,608 77,045 Loans and finance receivables at fair value $ 1,168,044 $ 1,924,401 $ 3,092,445 Difference between principal balance and fair value $ 184,656 $ 150,847 $ 335,503 As of December 31, 2023 Small Consumer Business Total Principal balance - accrual $ 1,019,057 $ 1,860,419 $ 2,879,476 Principal balance - non-accrual 119,871 155,388 275,259 Total principal balance 1,138,928 2,015,807 3,154,735 Accrued interest and fees 107,747 34,600 142,347 Loans and finance receivables at fair value - accrual 1,358,734 2,172,404 3,531,138 Loans and finance receivables at fair value - non-accrual 22,050 75,979 98,029 Loans and finance receivables at fair value $ 1,380,784 $ 2,248,383 $ 3,629,167 Difference between principal balance and fair value $ 241,856 $ 232,576 $ 474,432 As of June 30, 2024 and 2023 and December 31, 2023 , the aggregate fair value of loans and finance receivables that were 90 days or more past due was $ 33.5 million, $ 17.4 million and $ 24.3 million, respectively, of which, $ 14.7 million, $ 17.0 million and $ 23.6 million, respectively, was in non-accrual status. The aggregate unpaid principal balance for loans and finance receivables that were 90 days or more past due was $ 78.2 million, $ 41.1 million and $ 43.6 million, respectively. Changes in the fair value of Company-owned loans and finance receivables during the three and six months ended June 30, 2024 and 2023 were as follows (dollars in thousands): Three Months Ended June 30, 2024 Small Consumer Business Total Balance at beginning of period $ 1,347,165 $ 2,448,045 $ 3,795,210 Originations or acquisitions (1) 477,846 918,014 1,395,860 Interest and fees (2) 367,558 251,782 619,340 Repayments ( 603,296 ) ( 1,008,527 ) ( 1,611,823 ) Charge-offs, net (3) ( 161,171 ) ( 107,215 ) ( 268,386 ) Net change in fair value (3) ( 2,840 ) 15,246 12,406 Effect of foreign currency translation ( 3,448 ) — ( 3,448 ) Balance at end of period $ 1,421,814 $ 2,517,345 $ 3,939,159 Three Months Ended June 30, 2023 Small Consumer Business Total Balance at beginning of period $ 1,062,867 $ 1,940,499 $ 3,003,366 Originations or acquisitions (1) 385,513 711,658 1,097,171 Interest and fees (2) 302,264 190,459 492,723 Repayments ( 467,443 ) ( 836,035 ) ( 1,303,478 ) Charge-offs, net (3) ( 131,198 ) ( 83,772 ) ( 214,970 ) Net change in fair value (3) 15,252 1,592 16,844 Effect of foreign currency translation 789 — 789 Balance at end of period $ 1,168,044 $ 1,924,401 $ 3,092,445 Six Months Ended June 30, 2024 Small Consumer Business Total Balance at beginning of period $ 1,380,784 $ 2,248,383 $ 3,629,167 Originations or acquisitions (1) 885,109 1,877,949 2,763,058 Interest and fees (2) 732,289 488,259 1,220,548 Repayments ( 1,225,016 ) ( 1,926,150 ) ( 3,151,166 ) Charge-offs, net (3) ( 348,590 ) ( 206,494 ) ( 555,084 ) Net change in fair value (3) 1,600 35,398 36,998 Effect of foreign currency translation ( 4,362 ) — ( 4,362 ) Balance at end of period $ 1,421,814 $ 2,517,345 $ 3,939,159 Six Months Ended June 30, 2023 Small Consumer Business Total Balance at beginning of period $ 1,083,062 $ 1,935,466 $ 3,018,528 Originations or acquisitions (1) 666,064 1,481,822 2,147,886 Interest and fees (2) 583,275 384,915 968,190 Repayments ( 934,976 ) ( 1,715,218 ) ( 2,650,194 ) Charge-offs, net (3) ( 287,470 ) ( 159,987 ) ( 447,457 ) Net change in fair value (3) 56,873 ( 2,597 ) 54,276 Effect of foreign currency translation 1,216 — 1,216 Balance at end of period $ 1,168,044 $ 1,924,401 $ 3,092,445 (1) Originations or acquisitions is presented on a cost basis . (2) Included in “Revenue” in the consolidated statements of income. (3) Included in “Change in Fair Value” in the consolidated statements of income. Guarantees of Consumer Loans In connection with its CSO program, the Company guarantees consumer loan payment obligations to an unrelated third-party lender for consumer loans and is required to purchase any defaulted loans it has guaranteed. The guarantee represents an obligation to purchase specific loans that go into default. As of June 30, 2024 and 2023 and December 31, 2023, the consumer loans guaranteed by the Company had an estimated fair value of $ 17.3 million, $ 19.1 million and $ 18.5 million, respectively, and an outstanding principal balance of $ 12.5 million, $ 14.2 million and $ 13.5 million, respectively. As of June 30, 2024 and 2023 and December 31, 2023, the amount of consumer loans, including principal, fees and interest, guaranteed by the Company was $ 14.9 million, $ 17.0 million and $ 16.4 million, respectively. These loans are not included in the consolidated balance sheets as the Company does not own the loans prior to default.

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-term Debt	3. Long-term debt The Company’s long-term debt instruments and balances outstanding as of June 30, 2024 and 2023 and December 31, 2023, including maturity date, weighted average interest rate and borrowing capacity as of June 30, 2024, were as follows (dollars in thousands): Weighted Outstanding Revolving average Borrowing June 30, December 31, period end date Maturity date interest rate (1) capacity 2024 2023 2023 Funding Debt: 2018-1 Securitization Facility March 2025 March 2026 9.58 % $ 200,000 $ — $ 5,479 $ 92,964 2018-2 Securitization Facility July 2023 July 2025 (2) — — — 116,039 66,110 NCR 2022 Securitization Facility October 2024 October 2026 10.09 % 125,000 84,927 33,215 43,975 NCLOCR 2024 Securitization Facility February 2027 February 2028 10.84 % 150,000 75,000 — — ODR 2021-1 Securitization Facility November 2025 November 2026 8.91 % 233,333 194,330 185,167 151,331 ODR 2022-1 Securitization Facility June 2026 June 2027 9.04 % 420,000 258,668 280,774 277,586 RAOD Securitization Facility November 2024 November 2025 8.13 % 230,263 230,263 212,263 142,110 HWCR 2023 Securitization Facility May 2025 May 2026 9.66 % 287,214 287,214 221,000 287,214 ODAST III Securitization Notes April 2024 May 2027 (3) — — — 300,000 300,000 2023-A Securitization Notes — December 2027 7.78 % 50,989 50,989 128,679 78,865 2024-A Securitization Notes — October 2030 7.61 % 217,181 217,181 — — ODAS IV 2023-1 Securitization Notes July 2026 August 2030 7.66 % 227,051 227,051 — 227,051 ODAS IV 2024-1 Securitization Notes May 2027 June 2031 6.84 % 399,574 399,574 — — Total funding debt 8.35 % $ 2,540,605 $ 2,025,197 $ 1,482,616 $ 1,667,206 Corporate Debt: 11.25 % senior notes due 2028 — December 2028 11.25 % $ 400,000 $ 400,000 $ — $ 400,000 8.50 % senior notes due 2025 — September 2025 8.50 % 375,000 375,000 375,000 375,000 8.50 % senior notes due 2024 — September 2024 8.50 % — — 180,390 168,702 Revolving line of credit June 2026 June 2026 8.86 % 515,000 (4) 419,000 266,000 356,000 Total corporate debt 9.55 % $ 1,290,000 $ 1,194,000 $ 821,390 $ 1,299,702 Less: Long-term debt issuance costs $ ( 21,019 ) $ ( 5,052 ) $ ( 17,966 ) Less: Debt discounts ( 4,057 ) ( 1,928 ) ( 5,137 ) Total long-term debt $ 3,194,121 $ 2,297,026 $ 2,943,805 (1) The weighted average interest rate is determined based on the rates and principal balances on June 30, 2024 . It does not include the impact of the amortization of deferred loan origination costs or debt discounts. (2) On May 31, 2024, the remaining outstanding balance on this facility was paid in full and the facility was terminated. (3) On May 17, 2024, the remaining outstanding balance of these notes were paid in full and the facility was terminated. (4) The Company had outstanding letters of credit under the Revolving line of credit of $ 0.7 million. $ 0.8 million and $ 0.8 million as of June 30, 2024 and 2023 and December 31, 2023 , respectively. Weighted average interest rates on long-term debt were 9.26 % and 8.00 % during the six months ended June 30, 2024 and 2023, respectively. As of June 30, 2024 and 2023 and December 31, 2023, the Company was in compliance with all covenants and other requirements set forth in the prevailing long-term debt agreements. Recent Updates to Debt Facilities ODR 2022-1 Securitization Facility On June 27, 2024, the loan securitization facility for OnDeck Receivables 2022, LLC (the “ODR 2022-1 Securitization Facility”) was amended to, among other changes, extend the revolving period end and final maturity date to June 2026 and June 2027 , respectively, decrease the Class A revolving commitment from $ 350.0 million to $ 338.0 million, and increase the Class B revolving commitment from $ 70.0 million to $ 82.0 million. The total facility commitment remained the same at $ 420.0 million. Additionally, the borrowing rate on the Class A loans increased to BMO’s prime rate plus 2.60 % from BMO’s prime rate plus 1.75 % and the Class A advance rate decreased from 75.0 % to 72.5 %. There were no changes to the borrowing rate or advance rate on the Class B loans. 2024-A Securitization Notes On May 31, 2024, NetCredit Combined Receivables 2024, LLC (“NCCR 2024”), a wholly-owned indirect subsidiary of the Company, issued $ 217.2 million of Fixed Rate Asset-Backed Notes (the “2024-A Securitization Notes”) in a private securitization transaction . The 2024-A Securitization Notes have a legal final payment date in October 2030 and were issued in two classes with principal amounts and fixed interest rates per annum as follows: Class A Notes of $ 172.5 million at 7.43 % and Class B Notes of $ 44.6 million at 8.31 %. The 2024-A Securitization Notes are backed by a pool of unsecured consumer installment loans. The 2024-A Securitization Notes represent obligations of NCCR 2024 only and are not guaranteed by the Company. The net proceeds of the offering of the 2024-A Securitization Notes were used to acquire unsecured consumer installment loans from certain subsidiaries of the Company, fund a reserve amount and pay fees and expenses incurred in connection with the transaction. ODAS IV 2024-1 Securitization Notes On May 17, 2024, OnDeck Asset Securitization IV, LLC (“ODAS IV”), a wholly-owned indirect subsidiary of the Company, issued $ 399.6 million in initial principal amount of Fixed Rate Asset-Backed Notes (the “ODAS IV 2024-1 Securitization Notes”) in a private securitization transaction. The ODAS IV 2024-1 Securitization Notes have a legal final payment date in July 2031 and were issued in three classes with initial principal amounts and fixed interest rates per annum as follows: Class A Notes of $ 260.1 million at 6.27 %, Class B Notes of $ 82.2 million at 7.15 %, and Class C Notes of $ 57.3 million at 8.99 %. Collateral for the ODAS IV 2024-1 Securitization Notes consists of, among other things, a revolving pool of small business loans originated or purchased by ODK Capital, LLC (“ODK”), which is a wholly-owned indirect subsidiary of the Company. ODAS IV used the net proceeds of the private offering to purchase small business loans from ODK that were pledged as collateral for the ODAS IV 2024-1 Securitization Notes and to fund a reserve account. ODK is the servicer of the loans securing the ODAS IV 2024-1 Securitization Notes. ODAS IV is the sole obligor of the ODAS IV 2024-1 Securitization Notes, which are not obligations of, or guaranteed by, the Company or ODK. The Company will use the proceeds it receives from the transaction for general corporate purposes. The ODAS IV 2024-1 Securitization Notes were offered and sold to “qualified institutional buyers” pursuant to Rule 144A under the Securities Act and to certain persons outside of the United States in compliance with Regulation S under the Securities Act. NetCredit LOC Receivables 2024 On February 21, 2024, NetCredit LOC Receivables 2024, LLC, a wholly-owned indirect subsidiary of the Company, entered into a receivables securitization (the “NCLOCR 2024 Securitization Facility”) with lenders party thereto from time to time, Midtown Madison Management, LLC, as administrative agent and Citibank, N.A., as collateral trustee and paying agent. The NCLOCR 2024 Securitization Facility collateralizes certain receivables that have been and will be originated under the Company’s NetCredit brand by several of its subsidiaries and that meet specified criteria in exchange for a note payable. The NCLOCR 2024 Securitization Facility has a revolving commitment of $ 150.0 million, which is required to be secured by eligible securitization receivables. The NCLOCR 2024 Securitization Facility is non-recourse to the Company. The facility has a revolving period that ends in February 2027 and a final maturity ending in February 2028 . The NCLOCR 2024 Securitization Facility is governed by a note issuance and purchase agreement, dated as of February 21, 2024, among NetCredit LOC Receivables 2024, LLC, the administrative agent, the lenders, and the collateral trustee and paying agent. The revolving loans shall accrue interest as a rate per annum equal to SOFR plus 5.50 % with an advance rate of 85 %. Interest payments on the NCLOCR 2024 Securitization Facility will be made monthly. 8.50% Senior Notes Due 2024 On January 3, 2024, the Company redeemed the remaining $ 168.7 million of 8.50 % Senior Notes Due 2024 at par plus accrued interest. During the three and six months ended June 30, 2023 , the Company repurchased $ 25.8 million and $ 69.6 million, respectively, principal amount of the 8.50 % Senior Notes Due 2024 for aggregate cash consideration of $ 25.9 million and $ 69.5 million plus accrued interest, respectively. During the three and six months ended June 30, 2024, the Company recorded no loss on extinguishment of debt and $ 0.5 million ($ 0.4 million, net of tax) loss on extinguishment of debt, respectively related to the redemption of outstanding 8.50 % Senior Notes Due 2024. During the three and six months ended June 30, 2023, the Company recorded a loss on extinguishment of debt of $ 0.2 million ($ 0.1 million, net of tax) and $ 0.3 million ($ 0.2 million, net of tax), respectively, which is included in “Other nonoperating expenses” in the consolidated statements of income.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	4. Income Taxes The Company’s effective tax rate for the six months ended June 30, 2024 was 26.0 %, compared to 24.0 % for the six months ended June 30, 2023. The increase is primarily attributable to additional interest expense on unrecognized tax benefits and a remeasurement of the net deferred tax liability due to state rate adjustments. As of June 30, 2024, the balance of unrecognized tax benefits, inclusive of interest and penalties, was $ 193.4 million, which is included in “Accounts payable and accrued expenses” on the consolidated balance sheet. This balance consists of a temporary component of $ 179.8 million, for which there is an equal and offsetting deferred tax asset, and a permanent component of $ 13.6 million, which, if recognized, would favorably affect the effective tax rate in the period of recognition. The Company had $ 110.7 million of unrecognized tax benefits as of June 30, 2023. As of December 31, 2023 , the Company had $ 179.3 million of unrecognized tax benefits, inclusive of interest and penalties, of which $ 135.2 million is included in “Accounts payable and accrued expenses” on the consolidated balance sheet. The remaining $ 44.1 million was recorded as a reduction to deferred tax assets. The balance of $ 179.3 million at December 31, 2023 included a permanent component of $ 9.9 million. Based on the expiration of the statute of limitations for certain jurisdictions, the Company believes it is reasonably possible that, within the next twelve months, unrecognized tax benefits could decrease by approximately $ 2.2 million. The Company believes that it has adequately accounted for any material tax uncertainties in its existing reserves for all open tax years. The Company’s U.S. tax returns are subject to examination by federal and state taxing authorities. The statute of limitations related to the Company’s consolidated Federal income tax returns is closed for all tax years up to and including 2019. The years open to examination by state, local and foreign government authorities vary by jurisdiction, but the statute of limitation is generally three years from the date the tax return is filed. For jurisdictions that have generated net operating losses, carryovers may be subject to the statute of limitations applicable for the year those carryovers are utilized. In these cases, the period for which the losses may be adjusted will extend to conform with the statute of limitations for the year in which the losses are utilized. In most circumstances, this is expected to increase the length of time that the applicable taxing authority may examine the carryovers by one year or longer, in limited cases.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	5. Earnings Per Share Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated using the treasury share method, by giving effect to the potential dilution that could occur if securities or other contracts to issue common shares were exercised and converted into common shares during the period. Restricted stock units issued under the Company’s stock-based employee compensation plans are included in diluted shares upon the granting of the awards even though the vesting of shares will occur over time. The following table sets forth the reconciliation of numerators and denominators of basic and diluted earnings per share computations for the three and six months ended June 30, 2024 and 2023 (in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Numerator: Net income $ 53,911 $ 48,145 $ 102,339 $ 99,068 Denominator: Total weighted average basic shares 26,938 31,084 27,567 31,212 Shares applicable to stock-based compensation 1,003 1,119 1,155 1,244 Total weighted average diluted shares 27,941 32,203 28,722 32,456 Earnings per common share: Earnings per common share – basic $ 2.00 $ 1.55 $ 3.71 $ 3.17 Earnings per common share – diluted $ 1.93 $ 1.50 $ 3.56 $ 3.05 For the three months ended June 30, 2024 and 2023 , 258,452 and 314,224 shares of common stock underlying stock options, respectively, and 5,577 shares and 590,064 shares of common stock underlying restricted stock units, respectively, were excluded from the calculation of diluted net income per share because their effect would have been antidilutive. For the six months ended June 30, 2024 and 2023 , 263,787 and 326,994 shares of common stock underlying stock options, respectively, and 2,788 and 468,129 shares of common stock underlying restricted stock units, respectively, were excluded from the calculation of diluted net income per share because their effect would have been antidilutive.

Operating Segment Information

Operating Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Operating Segment Information	6. Operating Segment Information The Company provides online financial services to non-prime credit consumers and small businesses in the United States and Brazil and has one reportable segment. The Company has aggregated all components of its business into a single operating segment based on the similarities of the economic characteristics, the nature of the products and services, the nature of the production and distribution methods, the shared technology platforms, the type of customer and the nature of the regulatory environment. Geographic Information The following table presents the Company’s revenue by geographic region for the three and six months ended June 30, 2024 and 2023 (dollars in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Revenue United States $ 615,161 $ 493,015 $ 1,213,280 $ 972,068 Other international countries 13,275 6,416 25,045 10,619 Total revenue $ 628,436 $ 499,431 $ 1,238,325 $ 982,687 The Company’s long-lived assets, which consist of the Company’s property and equipment, were $ 115.1 million, $ 99.1 million and $ 108.7 million at June 30, 2024 and 2023 and December 31, 2023 , respectively. The operations for the Company’s businesses are primarily located within the United States, and the value of any long-lived assets located outside of the United States is immaterial.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Litigation On April 23, 2018, the Commonwealth of Virginia, through Attorney General Mark R. Herring, filed a lawsuit in the Circuit Court for the County of Fairfax, Virginia against NC Financial Solutions of Utah, LLC (“NC Utah”), a subsidiary of the Company. The lawsuit alleges violations of the Virginia Consumer Protection Act relating to NC Utah’s communications with customers, collections of certain payments, its loan agreements, and the rates it charged to Virginia borrowers. The plaintiff sought to enjoin NC Utah from continuing its then-existing lending practices in Virginia, and still seeks restitution, civil penalties, and costs and expenses in connection with the same. Due to a change in the law, NC Utah no longer lends to Virginia residents and the injunctive remedies sought against NC Utah’s lending practices are no longer applicable. Neither the likelihood of an unfavorable decision nor the ultimate liability, if any, with respect to this matter can be determined at this time, and the Company is currently unable to estimate a range of reasonably possible losses, as defined by ASC 450-20-20, Contingencies–Loss Contingencies–Glossary , for this litigation. The Company carefully considered applicable Virginia law before NC Utah began lending in Virginia and, as a result, believes that the plaintiff’s claims in the complaint are without merit and intends to vigorously defend this lawsuit. The Company is also involved in certain routine legal proceedings, claims and litigation matters encountered in the ordinary course of its business. Certain of these matters may be covered to an extent by insurance or by indemnification agreements with third parties. The Company has recorded accruals in its consolidated financial statements for those matters in which it is probable that it has incurred a loss and the amount of the loss, or range of loss, can be reasonably estimated. In the opinion of management, the resolution of these matters will not have a material adverse effect on the Company’s financial position, results of operations or liquidity.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	8. Related Party Transactions In December 2021, the Company divested a portion of its interest in OnDeck Australia and began recording its remaining interest utilizing the equity method of accounting. As of June 30, 2024 , there was no outstanding balance between OnDeck Australia and the Company. As of June 30, 2023 and December 31, 2023, the Company had a due from affiliate balance of $ 0.1 million and $ 0.1 million, respectively, related to OnDeck Australia.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	9. Fair Value Measurements Recurring Fair Value Measurements The Company uses a hierarchical framework that prioritizes and ranks the market observability of inputs used in its fair value measurements. Market price observability is affected by a number of factors, including the type of asset or liability and the characteristics specific to the asset or liability being measured. Assets and liabilities with readily available, active, quoted market prices or for which fair value can be measured from actively quoted prices generally are deemed to have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. The Company classifies the inputs used to measure fair value into one of three levels as follows: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable. Level 3: Unobservable inputs for the asset or liability measured. Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those cases, the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level of input that is significant to the entire measurement. Such determination requires significant management judgment. During the three and six months ended June 30, 2024 and 2023 , there were no transfers of assets or liabilities in or out of Level 3 fair value measurements. It is the Company’s policy to value any transfers between levels of the fair value hierarchy based on end of period fair values. The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2024 and 2023 and December 31, 2023 are as follows (dollars in thousands): June 30, Fair Value Measurements Using 2024 Level 1 Level 2 Level 3 Financial assets: Consumer loans and finance receivables (1)(2) $ 1,421,814 $ — $ — $ 1,421,814 Small business loans and finance receivables (1)(2) 2,517,345 — — 2,517,345 Non-qualified savings plan assets (3) 11,601 11,601 — — Investment in trading security (4) 8,635 8,635 — — Total $ 3,959,395 $ 20,236 $ — $ 3,939,159 June 30, Fair Value Measurements Using 2023 Level 1 Level 2 Level 3 Financial assets: Consumer loans and finance receivables (1)(2) $ 1,168,044 $ — $ — $ 1,168,044 Small business loans and finance receivables (1)(2) 1,924,401 — — 1,924,401 Non-qualified savings plan assets (3) 7,505 7,505 — — Investment in trading security (4) 10,835 10,835 — — Total $ 3,110,785 $ 18,340 $ — $ 3,092,445 December 31, Fair Value Measurements Using 2023 Level 1 Level 2 Level 3 Financial assets: Consumer loans and finance receivables (1)(2) $ 1,380,784 $ — $ — $ 1,380,784 Small business loans and finance receivables (1)(2) 2,248,383 — — 2,248,383 Non-qualified savings plan assets (3) 8,045 8,045 — — Investment in trading security (4) 7,169 7,169 — — Total $ 3,644,381 $ 15,214 $ — $ 3,629,167 (1) Consumer and small business loans and finance receivables are included in “Loans and finance receivables at fair value” in the consolidated balance sheets. (2) Consumer loans and finance receivables include $ 812.2 million , $ 695.1 million and $ 1,181.0 million in assets of consolidated VIEs as of June 30, 2024 and 2023 and December 31, 2023, respectively. Small business loans and finance receivables include $ 2,114.9 million , $ 1,288.0 million and $ 1,475.1 million in assets of consolidated VIEs as of June 30, 2024 and 2023 and December 31, 2023 , respectively. (3) The non-qualified savings plan assets are included in “Other receivables and prepaid expenses” in the Company’s consolidated balance sheets and have an offsetting liability, which is included in “Accounts payable and accrued expenses” in the Company’s consolidated balance sheets. (4) Investment in trading security is included in “Other assets” in the Company’s consolidated balance sheets. The Company primarily estimates the fair value of its loan and finance receivables portfolio using discounted cash flow models that have been internally developed. The models use inputs, such as estimated losses, prepayments, utilization rates, servicing costs and discount rates, that are unobservable but reflect the Company’s best estimates of the assumptions a market participant would use to calculate fair value. Certain unobservable inputs may, in isolation, have either a directionally consistent or opposite impact on the fair value of the financial instrument for a given change in that input. An increase to the net loss rate, prepayment rate, servicing cost, or discount rate would decrease the fair value of the Company’s loans and finance receivables. When multiple inputs are used within the valuation techniques for loans, a change in one input in a certain direction may be offset by an opposite change from another input. The fair value of the nonqualified savings plan assets was deemed Level 1 as they are publicly traded equity securities for which market prices of identical assets are readily observable. The fair value of the investment in trading security was deemed Level 1 as it is a publicly traded fund with active market pricing that is readily available. The Company had no liabilities measured at fair value on a recurring basis as of June 30, 2024 and 2023 and December 31, 2023. Fair Value Measurements on a Non-Recurring Basis The Company measures non-financial assets and liabilities such as property and equipment and intangible assets at fair value on a non-recurring basis or when events or circumstances indicate that the carrying amount of the assets may be impaired. At June 30, 2024 and 2023 and December 31, 2023 , there were no assets or liabilities recorded at fair value on a non-recurring basis. Financial Assets and Liabilities Not Measured at Fair Value The Company’s financial assets and liabilities as of June 30, 2024 and 2023 and December 31, 2023 that are not measured at fair value in the consolidated balance sheets are as follows (dollars in thousands): Balance at June 30, Fair Value Measurements Using 2024 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 60,138 $ 60,138 $ — $ — Restricted cash (1) 211,167 211,167 — — Investment in unconsolidated investee (2) 6,918 — — 6,918 Total $ 278,223 $ 271,305 $ — $ 6,918 Financial liabilities: Revolving line of credit $ 419,000 $ — $ — $ 419,000 Securitization notes 2,024,482 — 2,029,972 — 8.50 % senior notes due 2025 375,000 — 375,660 — 11.25 % senior notes due 2028 396,659 — 427,652 — Total $ 3,215,141 $ — $ 2,833,284 $ 419,000 Balance at June 30, Fair Value Measurements Using 2023 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 100,042 $ 100,042 $ — $ — Restricted cash (1) 161,619 161,619 — — Investment in unconsolidated investee (2) 6,918 — — 6,918 Total $ 268,579 $ 261,661 $ — $ 6,918 Financial liabilities: Revolving line of credit $ 266,000 $ — $ — $ 266,000 Securitization notes 1,480,688 — 1,463,685 — 8.50 % senior notes due 2024 180,390 — 205,390 — 8.50 % senior notes due 2025 375,000 — 365,021 — Total $ 2,302,078 $ — $ 2,034,096 $ 266,000 Balance at December 31, Fair Value Measurements Using 2023 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 54,357 $ 54,357 $ — $ — Restricted cash (1) 323,082 323,082 — — Investment in unconsolidated investee (2) 6,918 — — 6,918 Total $ 384,357 $ 377,439 $ — $ 6,918 Financial liabilities: Revolving line of credit $ 356,000 $ — $ — $ 356,000 Securitization notes 1,665,785 — 1,660,596 — 8.50 % senior notes due 2024 168,702 — 168,702 — 8.50 % senior notes due 2025 375,000 — 370,729 — 11.25 % senior notes due 2028 396,284 — 412,588 — Total $ 2,961,771 $ — $ 2,612,615 $ 356,000 (1) Restricted cash includes $ 195.1 million , $ 145.8 million and $ 136.0 million in assets of consolidated VIEs as of June 30, 2024 and 2023 and December 31, 2023 , respectively. (2) Investment in unconsolidated investee is included in “Other assets” in the consolidated balance sheets. Cash and cash equivalents and restricted cash bear interest at market rates and have maturities of less than 90 days. The carrying amount of restricted cash and cash equivalents approximates fair value. The Company measures the fair value of its investment in unconsolidated investee using Level 3 inputs. Because the unconsolidated investee is a private company and financial information is limited, the Company estimates the fair value based on the best available information at the measurement date. The Company measures the fair value of its revolving line of credit using Level 3 inputs. The Company considered the fair value of its other long-term debt and the timing of expected payment(s). The fair values of the Company’s Securitization Notes and senior notes are estimated based on quoted prices in markets that are not active, which are deemed Level 2 inputs.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	10. Subsequent Events Subsequent events have been reviewed through the date these financial statements were issued.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements of the Company included herein have been prepared on the basis of accounting principles generally accepted in the United States (“GAAP”) and reflect the historical results of operations and cash flows of the Company during each respective period. The consolidated financial statements include goodwill and intangible assets arising from businesses previously acquired. The financial information included herein may not be indicative of the consolidated financial position, operating results, changes in stockholders’ equity and cash flows of the Company in the future. Intercompany transactions are eliminated. The Company consolidates any VIE where it has been determined it is the primary beneficiary. The primary beneficiary is the entity which has both the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance as well as the obligation to absorb losses or receive benefits of the entity that could potentially be significant to the VIE. The consolidated financial statements presented as of June 30, 2024 and 2023 and for the three and six-month periods ended June 30, 2024 and 2023 are unaudited but, in management’s opinion, include all adjustments necessary for a fair presentation of the results for such interim periods. Operating results for the three and six-month periods are not necessarily indicative of the results that may be expected for the full fiscal year. These consolidated financial statements and related notes should be read in conjunction with the Company’s audited consolidated financial statements as of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021 and related notes, which are included on Form 10-K filed with the SEC on February 23, 2024 .
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheets (in thousands): June 30, 2024 2023 Cash and cash equivalents $ 60,138 $ 100,042 Restricted cash 211,167 161,619 Total cash, cash equivalents and restricted cash $ 271,305 $ 261,661
Loans and Finance Receivables	Loans and Finance Receivables The Company utilizes the fair value option on its entire loan and finance receivable portfolio. As such, loans and finance receivables are carried at fair value in the consolidated balance sheet with changes in fair value recorded in the consolidated income statement. To derive the fair value, the Company generally utilizes discounted cash flow analyses that factor in estimated losses, prepayments, utilization rates and servicing costs over the estimated duration of the underlying assets. Loss, prepayment, utilization and servicing cost assumptions are determined using historical data and include appropriate consideration of recent trends and anticipated future performance. Future cash flows are discounted using a rate of return that the Company believes a market participant would require. Accrued and unpaid interest and fees are included in “Loans and finance receivables at fair value” in the consolidated balance sheets. If a loan is renewed or refinanced, the renewal or refinanced loan is considered a new loan. The Company generally does not consider modifications that do not necessitate the customer to sign a new loan agreement to be new loans.
Current and Delinquent Loans and Finance Receivables	Current and Delinquent Loans and Finance Receivables The Company classifies its loans and finance receivables as either current or delinquent. When a customer does not make a scheduled payment in full as of the due date, the receivable is considered delinquent. For the OnDeck portfolio, there is no accrual of interest income on loans when the customer misses their most recent payment. Excluding the OnDeck portfolio, there is no accrual of interest income on loans when a customer falls more than one payment behind. Loans may be returned to accrual status if the customer rectifies and the loan no longer meets non-accrual criteria. The Company allows for normal payment processing time before considering a loan delinquent but does not provide for any additional grace period. The Company offers certain forbearance options on its loan products with features such as payment deferrals without the incurrence of additional finance charges or late fees. If a loan is deemed to be current and the customer makes a deferral or payment modification, the loan is still deemed to be current until the next scheduled payment is missed. For the consumer portfolio, the Company generally charges off a loan or finance receivable when it becomes 65 days delinquent. If deemed uncollectible prior to this, it is charged off at that point. For the small business portfolio, the Company generally charges off a loan or finance receivable when it is probable that it will be unable to collect all of the remaining principal payments, which is generally after 90 days of delinquency and 30 days of non-activity. Recoveries on loans and finance receivables that were previously charged off are generally recognized when collected or sold.
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. In accordance with Accounting Standards Codification (“ASC”) 350, Goodwill , the Company tests goodwill and intangible assets with an indefinite life for potential impairment annually as of October 1 and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value below its carrying amount. The Company first assesses qualitative factors to determine whether it is necessary to perform the quantitative goodwill impairment test. In assessing the qualitative factors, management considers relevant events and circumstances including but not limited to macroeconomic conditions, industry and market environment, overall financial performance of the Company, cash flow from operating activities, market capitalization and stock price. If the Company determines that the quantitative impairment test is required, management uses the income approach to complete its annual goodwill assessment. The income approach uses future cash flows and estimated terminal values for the Company that are discounted using a market participant perspective to determine the fair value, which is then compared to the carrying value to determine if there is impairment. The income approach includes assumptions about revenue growth rates, operating margins and terminal growth rates discounted by an estimated weighted-average cost of capital derived from other publicly-traded companies that are similar but not identical from an operational and economic standpoint.
Revenue Recognition	Revenue Recognition The Company recognizes revenue based on the financing products and services it offers and on loans it acquires. “Revenue” in the consolidated statements of income primarily includes interest income, statement and draw fees on line of credit accounts, fees for services provided through the Company’s CSO program (“CSO fees”), revenue on receivables purchase agreements (“RPAs”), origination fees, and other fees as permitted by applicable laws and pursuant to the agreement with the customer. Interest income is generally recognized on an effective yield basis over the contractual term of the loan on installment loans or the estimated outstanding period of the draw on line of credit accounts. Statement fees on line of credit accounts are similar to interest charges and are generally recognized similarly to interest income. Draw fees on line of credit accounts are generally recognized at the time of draw. Revenue on RPAs is recognized over the projected delivery term of the agreement. CSO fees are recognized over the term of the loan. Origination fees are charged to customers on certain installment loan products and are recognized upon origination.
Marketing Expenses	Marketing Expenses Marketing expenses consist of digital costs, lead purchase costs and offline marketing costs such as television and direct mail advertising. All marketing expenses are expensed as incurred.
Equity Method Investments	Equity Method Investments On February 24, 2021, the Company contributed the platform-as-service business assumed in the OnDeck acquisition to Linear Financial Technologies Holding LLC (“Linear”) in exchange for ownership units in that entity. The Company records its interest in Linear under the equity method of accounting. As of June 30, 2024 and 2023 and December 31, 2023, the carrying value of the Company’s investment in Linear was $ 16.1 million, $ 16.0 million and $ 16.1 million, respectively, which the Company has included in “Other assets” on the consolidated balance sheets. In December 2021, the Company sold a portion of its interest in On Deck Capital Australia PTY LTD (“OnDeck Australia”). Prior to this, the Company had consolidated the financial position and results of operations of OnDeck Australia under the voting interest model. Subsequent to the transaction, the Company owns a 20 % equity interest in OnDeck Australia and no longer has control over the entity; as such, the Company has deconsolidated OnDeck Australia from its financial statements and now records its interest under the equity method of accounting. As of June 30, 2024 and 2023 and December 31, 2023 , the Company's investment in OnDeck Australia had no carrying value. Equity method income has been included in “Equity method investment loss” in the consolidated income statements.
Variable Interest Entities	Variable Interest Entities As part of the Company’s overall funding strategy and as part of its efforts to support its liquidity from varying sources, the Company has established a securitization program through several securitization facilities. The Company transfers certain loan receivables to VIEs, which issue notes backed by the underlying loan receivables and are serviced by another wholly-owned subsidiary of the Company. The cash flows from the loans held by the VIEs are used to repay obligations under the notes. The Company is required to evaluate the VIEs for consolidation. The Company has the ability to direct the activities of the VIEs that most significantly impact the economic performance of the entities as the servicer of the securitized loan receivables. Additionally, the Company has the right to receive residual payments, which expose it to potentially significant losses and returns. Accordingly, the Company determined it is the primary beneficiary of the VIEs and is required to consolidate them. The assets and liabilities related to the VIEs are included in the Company’s consolidated financial statements and are accounted for as secured borrowings.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the consolidated balance sheets (in thousands): June 30, 2024 2023 Cash and cash equivalents $ 60,138 $ 100,042 Restricted cash 211,167 161,619 Total cash, cash equivalents and restricted cash $ 271,305 $ 261,661

Loans and Finance Receivables (

Loans and Finance Receivables (Tables)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Schedule of Revenue Generated from Loans and Finance Receivables	Revenue generated from the Company’s loans and finance receivables for the three and six months ended June 30, 2024 and 2023 was as follows (dollars in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Consumer loans and finance receivables revenue $ 367,558 $ 302,264 $ 732,289 $ 583,275 Small business loans and finance receivables revenue 251,782 190,459 488,259 384,915 Total loans and finance receivables revenue 619,340 492,723 1,220,548 968,190 Other 9,096 6,708 17,777 14,497 Total revenue $ 628,436 $ 499,431 $ 1,238,325 $ 982,687
Components of Company-owned Loans and Finance Receivables at Fair Value	The components of Company-owned loans and finance receivables at June 30, 2024 and 2023 and December 31, 2023 were as follows (dollars in thousands): As of June 30, 2024 Small Consumer Business Total Principal balance - accrual $ 1,056,193 $ 2,098,129 $ 3,154,322 Principal balance - non-accrual 120,534 148,796 269,330 Total principal balance 1,176,727 2,246,925 3,423,652 Accrued interest and fees 109,028 37,046 146,074 Loans and finance receivables at fair value - accrual 1,398,890 2,455,039 3,853,929 Loans and finance receivables at fair value - non-accrual 22,924 62,306 85,230 Loans and finance receivables at fair value $ 1,421,814 $ 2,517,345 $ 3,939,159 Difference between principal balance and fair value $ 245,087 $ 270,420 $ 515,507 As of June 30, 2023 Small Consumer Business Total Principal balance - accrual $ 889,545 $ 1,616,953 $ 2,506,498 Principal balance - non-accrual 93,843 156,601 250,444 Total principal balance 983,388 1,773,554 2,756,942 Accrued interest and fees 85,354 15,261 100,615 Loans and finance receivables at fair value - accrual 1,159,607 1,855,793 3,015,400 Loans and finance receivables at fair value - non-accrual 8,437 68,608 77,045 Loans and finance receivables at fair value $ 1,168,044 $ 1,924,401 $ 3,092,445 Difference between principal balance and fair value $ 184,656 $ 150,847 $ 335,503 As of December 31, 2023 Small Consumer Business Total Principal balance - accrual $ 1,019,057 $ 1,860,419 $ 2,879,476 Principal balance - non-accrual 119,871 155,388 275,259 Total principal balance 1,138,928 2,015,807 3,154,735 Accrued interest and fees 107,747 34,600 142,347 Loans and finance receivables at fair value - accrual 1,358,734 2,172,404 3,531,138 Loans and finance receivables at fair value - non-accrual 22,050 75,979 98,029 Loans and finance receivables at fair value $ 1,380,784 $ 2,248,383 $ 3,629,167 Difference between principal balance and fair value $ 241,856 $ 232,576 $ 474,432
Schedule of Changes in Fair Value of Company-owned Loans and Finance Receivables	Changes in the fair value of Company-owned loans and finance receivables during the three and six months ended June 30, 2024 and 2023 were as follows (dollars in thousands): Three Months Ended June 30, 2024 Small Consumer Business Total Balance at beginning of period $ 1,347,165 $ 2,448,045 $ 3,795,210 Originations or acquisitions (1) 477,846 918,014 1,395,860 Interest and fees (2) 367,558 251,782 619,340 Repayments ( 603,296 ) ( 1,008,527 ) ( 1,611,823 ) Charge-offs, net (3) ( 161,171 ) ( 107,215 ) ( 268,386 ) Net change in fair value (3) ( 2,840 ) 15,246 12,406 Effect of foreign currency translation ( 3,448 ) — ( 3,448 ) Balance at end of period $ 1,421,814 $ 2,517,345 $ 3,939,159 Three Months Ended June 30, 2023 Small Consumer Business Total Balance at beginning of period $ 1,062,867 $ 1,940,499 $ 3,003,366 Originations or acquisitions (1) 385,513 711,658 1,097,171 Interest and fees (2) 302,264 190,459 492,723 Repayments ( 467,443 ) ( 836,035 ) ( 1,303,478 ) Charge-offs, net (3) ( 131,198 ) ( 83,772 ) ( 214,970 ) Net change in fair value (3) 15,252 1,592 16,844 Effect of foreign currency translation 789 — 789 Balance at end of period $ 1,168,044 $ 1,924,401 $ 3,092,445 Six Months Ended June 30, 2024 Small Consumer Business Total Balance at beginning of period $ 1,380,784 $ 2,248,383 $ 3,629,167 Originations or acquisitions (1) 885,109 1,877,949 2,763,058 Interest and fees (2) 732,289 488,259 1,220,548 Repayments ( 1,225,016 ) ( 1,926,150 ) ( 3,151,166 ) Charge-offs, net (3) ( 348,590 ) ( 206,494 ) ( 555,084 ) Net change in fair value (3) 1,600 35,398 36,998 Effect of foreign currency translation ( 4,362 ) — ( 4,362 ) Balance at end of period $ 1,421,814 $ 2,517,345 $ 3,939,159 Six Months Ended June 30, 2023 Small Consumer Business Total Balance at beginning of period $ 1,083,062 $ 1,935,466 $ 3,018,528 Originations or acquisitions (1) 666,064 1,481,822 2,147,886 Interest and fees (2) 583,275 384,915 968,190 Repayments ( 934,976 ) ( 1,715,218 ) ( 2,650,194 ) Charge-offs, net (3) ( 287,470 ) ( 159,987 ) ( 447,457 ) Net change in fair value (3) 56,873 ( 2,597 ) 54,276 Effect of foreign currency translation 1,216 — 1,216 Balance at end of period $ 1,168,044 $ 1,924,401 $ 3,092,445 (1) Originations or acquisitions is presented on a cost basis . (2) Included in “Revenue” in the consolidated statements of income. (3) Included in “Change in Fair Value” in the consolidated statements of income.

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Summary of Long-Term Debt Instruments and Balances Outstanding Including Maturity Date, Weighted Average Interest Rate and Borrowing Capacity	The Company’s long-term debt instruments and balances outstanding as of June 30, 2024 and 2023 and December 31, 2023, including maturity date, weighted average interest rate and borrowing capacity as of June 30, 2024, were as follows (dollars in thousands): Weighted Outstanding Revolving average Borrowing June 30, December 31, period end date Maturity date interest rate (1) capacity 2024 2023 2023 Funding Debt: 2018-1 Securitization Facility March 2025 March 2026 9.58 % $ 200,000 $ — $ 5,479 $ 92,964 2018-2 Securitization Facility July 2023 July 2025 (2) — — — 116,039 66,110 NCR 2022 Securitization Facility October 2024 October 2026 10.09 % 125,000 84,927 33,215 43,975 NCLOCR 2024 Securitization Facility February 2027 February 2028 10.84 % 150,000 75,000 — — ODR 2021-1 Securitization Facility November 2025 November 2026 8.91 % 233,333 194,330 185,167 151,331 ODR 2022-1 Securitization Facility June 2026 June 2027 9.04 % 420,000 258,668 280,774 277,586 RAOD Securitization Facility November 2024 November 2025 8.13 % 230,263 230,263 212,263 142,110 HWCR 2023 Securitization Facility May 2025 May 2026 9.66 % 287,214 287,214 221,000 287,214 ODAST III Securitization Notes April 2024 May 2027 (3) — — — 300,000 300,000 2023-A Securitization Notes — December 2027 7.78 % 50,989 50,989 128,679 78,865 2024-A Securitization Notes — October 2030 7.61 % 217,181 217,181 — — ODAS IV 2023-1 Securitization Notes July 2026 August 2030 7.66 % 227,051 227,051 — 227,051 ODAS IV 2024-1 Securitization Notes May 2027 June 2031 6.84 % 399,574 399,574 — — Total funding debt 8.35 % $ 2,540,605 $ 2,025,197 $ 1,482,616 $ 1,667,206 Corporate Debt: 11.25 % senior notes due 2028 — December 2028 11.25 % $ 400,000 $ 400,000 $ — $ 400,000 8.50 % senior notes due 2025 — September 2025 8.50 % 375,000 375,000 375,000 375,000 8.50 % senior notes due 2024 — September 2024 8.50 % — — 180,390 168,702 Revolving line of credit June 2026 June 2026 8.86 % 515,000 (4) 419,000 266,000 356,000 Total corporate debt 9.55 % $ 1,290,000 $ 1,194,000 $ 821,390 $ 1,299,702 Less: Long-term debt issuance costs $ ( 21,019 ) $ ( 5,052 ) $ ( 17,966 ) Less: Debt discounts ( 4,057 ) ( 1,928 ) ( 5,137 ) Total long-term debt $ 3,194,121 $ 2,297,026 $ 2,943,805 (1) The weighted average interest rate is determined based on the rates and principal balances on June 30, 2024 . It does not include the impact of the amortization of deferred loan origination costs or debt discounts. (2) On May 31, 2024, the remaining outstanding balance on this facility was paid in full and the facility was terminated. (3) On May 17, 2024, the remaining outstanding balance of these notes were paid in full and the facility was terminated. (4) The Company had outstanding letters of credit under the Revolving line of credit of $ 0.7 million. $ 0.8 million and $ 0.8 million as of June 30, 2024 and 2023 and December 31, 2023 , respectively.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Reconciliation of Numerators and Denominators of Basic and Diluted Earnings per Share Computations	The following table sets forth the reconciliation of numerators and denominators of basic and diluted earnings per share computations for the three and six months ended June 30, 2024 and 2023 (in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Numerator: Net income $ 53,911 $ 48,145 $ 102,339 $ 99,068 Denominator: Total weighted average basic shares 26,938 31,084 27,567 31,212 Shares applicable to stock-based compensation 1,003 1,119 1,155 1,244 Total weighted average diluted shares 27,941 32,203 28,722 32,456 Earnings per common share: Earnings per common share – basic $ 2.00 $ 1.55 $ 3.71 $ 3.17 Earnings per common share – diluted $ 1.93 $ 1.50 $ 3.56 $ 3.05

Operating Segment Information (

Operating Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Summary of Company's Revenue by Geographical Region	The following table presents the Company’s revenue by geographic region for the three and six months ended June 30, 2024 and 2023 (dollars in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Revenue United States $ 615,161 $ 493,015 $ 1,213,280 $ 972,068 Other international countries 13,275 6,416 25,045 10,619 Total revenue $ 628,436 $ 499,431 $ 1,238,325 $ 982,687

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Assets and Liabilities Measured on Recurring Basis	The Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2024 and 2023 and December 31, 2023 are as follows (dollars in thousands): June 30, Fair Value Measurements Using 2024 Level 1 Level 2 Level 3 Financial assets: Consumer loans and finance receivables (1)(2) $ 1,421,814 $ — $ — $ 1,421,814 Small business loans and finance receivables (1)(2) 2,517,345 — — 2,517,345 Non-qualified savings plan assets (3) 11,601 11,601 — — Investment in trading security (4) 8,635 8,635 — — Total $ 3,959,395 $ 20,236 $ — $ 3,939,159 June 30, Fair Value Measurements Using 2023 Level 1 Level 2 Level 3 Financial assets: Consumer loans and finance receivables (1)(2) $ 1,168,044 $ — $ — $ 1,168,044 Small business loans and finance receivables (1)(2) 1,924,401 — — 1,924,401 Non-qualified savings plan assets (3) 7,505 7,505 — — Investment in trading security (4) 10,835 10,835 — — Total $ 3,110,785 $ 18,340 $ — $ 3,092,445 December 31, Fair Value Measurements Using 2023 Level 1 Level 2 Level 3 Financial assets: Consumer loans and finance receivables (1)(2) $ 1,380,784 $ — $ — $ 1,380,784 Small business loans and finance receivables (1)(2) 2,248,383 — — 2,248,383 Non-qualified savings plan assets (3) 8,045 8,045 — — Investment in trading security (4) 7,169 7,169 — — Total $ 3,644,381 $ 15,214 $ — $ 3,629,167 (1) Consumer and small business loans and finance receivables are included in “Loans and finance receivables at fair value” in the consolidated balance sheets. (2) Consumer loans and finance receivables include $ 812.2 million , $ 695.1 million and $ 1,181.0 million in assets of consolidated VIEs as of June 30, 2024 and 2023 and December 31, 2023, respectively. Small business loans and finance receivables include $ 2,114.9 million , $ 1,288.0 million and $ 1,475.1 million in assets of consolidated VIEs as of June 30, 2024 and 2023 and December 31, 2023 , respectively. (3) The non-qualified savings plan assets are included in “Other receivables and prepaid expenses” in the Company’s consolidated balance sheets and have an offsetting liability, which is included in “Accounts payable and accrued expenses” in the Company’s consolidated balance sheets. (4) Investment in trading security is included in “Other assets” in the Company’s consolidated balance sheets.
Financial Assets and Liabilities Not Measured at Fair Value	The Company’s financial assets and liabilities as of June 30, 2024 and 2023 and December 31, 2023 that are not measured at fair value in the consolidated balance sheets are as follows (dollars in thousands): Balance at June 30, Fair Value Measurements Using 2024 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 60,138 $ 60,138 $ — $ — Restricted cash (1) 211,167 211,167 — — Investment in unconsolidated investee (2) 6,918 — — 6,918 Total $ 278,223 $ 271,305 $ — $ 6,918 Financial liabilities: Revolving line of credit $ 419,000 $ — $ — $ 419,000 Securitization notes 2,024,482 — 2,029,972 — 8.50 % senior notes due 2025 375,000 — 375,660 — 11.25 % senior notes due 2028 396,659 — 427,652 — Total $ 3,215,141 $ — $ 2,833,284 $ 419,000 Balance at June 30, Fair Value Measurements Using 2023 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 100,042 $ 100,042 $ — $ — Restricted cash (1) 161,619 161,619 — — Investment in unconsolidated investee (2) 6,918 — — 6,918 Total $ 268,579 $ 261,661 $ — $ 6,918 Financial liabilities: Revolving line of credit $ 266,000 $ — $ — $ 266,000 Securitization notes 1,480,688 — 1,463,685 — 8.50 % senior notes due 2024 180,390 — 205,390 — 8.50 % senior notes due 2025 375,000 — 365,021 — Total $ 2,302,078 $ — $ 2,034,096 $ 266,000 Balance at December 31, Fair Value Measurements Using 2023 Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 54,357 $ 54,357 $ — $ — Restricted cash (1) 323,082 323,082 — — Investment in unconsolidated investee (2) 6,918 — — 6,918 Total $ 384,357 $ 377,439 $ — $ 6,918 Financial liabilities: Revolving line of credit $ 356,000 $ — $ — $ 356,000 Securitization notes 1,665,785 — 1,660,596 — 8.50 % senior notes due 2024 168,702 — 168,702 — 8.50 % senior notes due 2025 375,000 — 370,729 — 11.25 % senior notes due 2028 396,284 — 412,588 — Total $ 2,961,771 $ — $ 2,612,615 $ 356,000 (1) Restricted cash includes $ 195.1 million , $ 145.8 million and $ 136.0 million in assets of consolidated VIEs as of June 30, 2024 and 2023 and December 31, 2023 , respectively. (2) Investment in unconsolidated investee is included in “Other assets” in the consolidated balance sheets.

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Significant Accounting Policies [Line Items]
Days for delinquent loans to be charged off	65 days
Days for delinquent loans remaining principal payment	90 days
Non activity loan or finance receivable period	30 days
OnDeck Australia
Significant Accounting Policies [Line Items]
Equity interest percentage	20%
Linear
Significant Accounting Policies [Line Items]
Carrying value of investment	$ 16,100,000	$ 16,100,000	$ 16,000,000
Other Assets | OnDeck Australia
Significant Accounting Policies [Line Items]
Carrying value of investment	$ 0	$ 0	$ 0

Significant Accounting Polici_5

Significant Accounting Policies - Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	[1]	$ 60,138	$ 54,357	$ 100,042
Restricted cash	[1]	211,167	323,082	161,619
Total cash, cash equivalents and restricted cash		$ 271,305	$ 377,439	$ 261,661	$ 178,400
[1] Includes amounts in wholly-owned, bankruptcy-remote special purpose subsidiaries (“VIEs”) presented separately in the table below.

Loans and Finance Receivables -

Loans and Finance Receivables - Schedule of Revenue Generated from Loans and Finance Receivables (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accounts Notes And Loans Receivable [Line Items]
Consumer loans and finance receivables revenue	[1]	$ 619,340	$ 492,723	$ 1,220,548	$ 968,190
Total loans and finance receivables revenue		619,340	492,723	1,220,548	968,190
Other		9,096	6,708	17,777	14,497
Total revenue		628,436	499,431	1,238,325	982,687
Consumer Loans and Finance Receivables Revenue
Accounts Notes And Loans Receivable [Line Items]
Consumer loans and finance receivables revenue		367,558	302,264	732,289	583,275
Small Business Loans and Finance Receivables Revenue
Accounts Notes And Loans Receivable [Line Items]
Small business loans and finance receivables revenue		$ 251,782	$ 190,459	$ 488,259	$ 384,915
[1] Included in “Revenue” in the consolidated statements of income.

Loans and Finance Receivables_2

Loans and Finance Receivables - Components of Company-owned Loans and Finance Receivables At Fair Value (Detail) - USD ($) $ in Thousands	Jun. 30, 2024		Mar. 31, 2024	Dec. 31, 2023		Jun. 30, 2023		Mar. 31, 2023	Dec. 31, 2022
Accounts Notes And Loans Receivable [Line Items]
Principal balance - accrual	$ 3,154,322			$ 2,879,476		$ 2,506,498
Principal balance - non-accrual	269,330			275,259		250,444
Total principal balance	3,423,652			3,154,735		2,756,942
Accrued interest and fees	146,074			142,347		100,615
Loans and finance receivables at fair value - accrual	3,853,929			3,531,138		3,015,400
Loans and finance receivables at fair value - non-accrual	85,230			98,029		77,045
Loans and finance receivables at fair value	3,939,159	[1]	$ 3,795,210	3,629,167	[1]	3,092,445	[1]	$ 3,003,366	$ 3,018,528
Difference between principal balance and fair value	515,507			474,432		335,503
Consumer
Accounts Notes And Loans Receivable [Line Items]
Principal balance - accrual	1,056,193			1,019,057		889,545
Principal balance - non-accrual	120,534			119,871		93,843
Total principal balance	1,176,727			1,138,928		983,388
Accrued interest and fees	109,028			107,747		85,354
Loans and finance receivables at fair value - accrual	1,398,890			1,358,734		1,159,607
Loans and finance receivables at fair value - non-accrual	22,924			22,050		8,437
Loans and finance receivables at fair value	1,421,814		1,347,165	1,380,784		1,168,044		1,062,867	1,083,062
Difference between principal balance and fair value	245,087			241,856		184,656
Small Business
Accounts Notes And Loans Receivable [Line Items]
Principal balance - accrual	2,098,129			1,860,419		1,616,953
Principal balance - non-accrual	148,796			155,388		156,601
Total principal balance	2,246,925			2,015,807		1,773,554
Accrued interest and fees	37,046			34,600		15,261
Loans and finance receivables at fair value - accrual	2,455,039			2,172,404		1,855,793
Loans and finance receivables at fair value - non-accrual	62,306			75,979		68,608
Loans and finance receivables at fair value	2,517,345		$ 2,448,045	2,248,383		1,924,401		$ 1,940,499	$ 1,935,466
Difference between principal balance and fair value	$ 270,420			$ 232,576		$ 150,847
[1] Includes amounts in wholly-owned, bankruptcy-remote special purpose subsidiaries (“VIEs”) presented separately in the table below.

Loans and Finance Receivables_3

Loans and Finance Receivables - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Accounts Notes And Loans Receivable [Line Items]
Active consumer loans owned by third-party lenders	$ 14.9	$ 16.4	$ 17
Accrual for losses on consumer loan guaranty obligations	17.3	18.5	19.1
Accrual for third party lender owned consumer loans, outstanding principal amount	12.5	13.5	14.2
Financial Asset, Equal to or Greater than 90 Days Past Due
Accounts Notes And Loans Receivable [Line Items]
Aggregate fair value of loans and finance receivables that are 90 days or more past due	33.5	24.3	17.4
Aggregate fair value of loans and finance receivables in non-accrual status	14.7	23.6	17
Aggregate unpaid principal balance for loans and finance receivables that are 90 days past due	$ 78.2	$ 43.6	$ 41.1

Loans and Finance Receivables_4

Loans and Finance Receivables - Schedule of Changes in Fair Value of Company-owned Loans and Finance Receivables (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024		Jun. 30, 2023
Accounts Notes And Loans Receivable [Line Items]
Balance at beginning of period		$ 3,795,210	$ 3,003,366	$ 3,629,167	[1]	$ 3,018,528
Originations or acquisitions	[2]	1,395,860	1,097,171	2,763,058		2,147,886
Interest and fees	[3]	619,340	492,723	1,220,548		968,190
Repayments		(1,611,823)	(1,303,478)	(3,151,166)		(2,650,194)
Charge-offs, net	[4]	(268,386)	(214,970)	(555,084)		(447,457)
Net change in fair value	[4]	12,406	16,844	36,998		54,276
Effect of foreign currency translation		(3,448)	789	(4,362)		1,216
Balance at end of period	[1]	3,939,159	3,092,445	3,939,159		3,092,445
Consumer
Accounts Notes And Loans Receivable [Line Items]
Balance at beginning of period		1,347,165	1,062,867	1,380,784		1,083,062
Originations or acquisitions	[2]	477,846	385,513	885,109		666,064
Interest and fees	[3]	367,558	302,264	732,289		583,275
Repayments		(603,296)	(467,443)	(1,225,016)		(934,976)
Charge-offs, net	[4]	(161,171)	(131,198)	(348,590)		(287,470)
Net change in fair value	[4]	(2,840)	15,252	1,600		56,873
Effect of foreign currency translation		(3,448)	789	(4,362)		1,216
Balance at end of period		1,421,814	1,168,044	1,421,814		1,168,044
Small Business
Accounts Notes And Loans Receivable [Line Items]
Balance at beginning of period		2,448,045	1,940,499	2,248,383		1,935,466
Originations or acquisitions	[2]	918,014	711,658	1,877,949		1,481,822
Interest and fees	[3]	251,782	190,459	488,259		384,915
Repayments		(1,008,527)	(836,035)	(1,926,150)		(1,715,218)
Charge-offs, net	[4]	(107,215)	(83,772)	(206,494)		(159,987)
Net change in fair value	[4]	15,246	1,592	35,398		(2,597)
Balance at end of period		$ 2,517,345	$ 1,924,401	$ 2,517,345		$ 1,924,401
[1] Includes amounts in wholly-owned, bankruptcy-remote special purpose subsidiaries (“VIEs”) presented separately in the table below. Originations or acquisitions is presented on a cost basis Included in “Revenue” in the consolidated statements of income. Included in “Change in Fair Value” in the consolidated statements of income.

Long-term Debt - Summary of Lon

Long-term Debt - Summary of Long-Term Debt Instruments and Balances Outstanding Including Maturity Date, Weighted Average Interest Rate and Borrowing Capacity (Detail) - USD ($)					6 Months Ended
		Jun. 27, 2024	May 31, 2024	May 17, 2024	Jun. 30, 2024	Feb. 21, 2024	Jan. 03, 2024	Dec. 31, 2023	Jun. 30, 2023
Debt Instrument [Line Items]
Weighted average interest rates					9.26%				8%
Less: Long-term debt issuance costs					$ (21,019,000)			$ (17,966,000)	$ (5,052,000)
Less: Debt discounts					(4,057,000)			(5,137,000)	(1,928,000)
Total long-term debt	[1]				$ 3,194,121,000			2,943,805,000	2,297,026,000
NCLOCR 2024 Securitization Facility
Debt Instrument [Line Items]
Borrowing capacity						$ 150,000,000
ODR 2022-1 Securitization Facility
Debt Instrument [Line Items]
Revolving period end date		2026-06
Maturity date		2027-06
Borrowing capacity		$ 420,000,000
2024-A Securitization Notes
Debt Instrument [Line Items]
Maturity date			2030-10
ODAS IV 2024-1 Securitization Notes
Debt Instrument [Line Items]
Maturity date				2031-07
8.50% senior notes due 2024
Debt Instrument [Line Items]
Senior notes							$ 168,700,000
Funding Debt
Debt Instrument [Line Items]
Weighted average interest rates	[2]				8.35%
Borrowing capacity					$ 2,540,605,000
Total debt, outstanding					$ 2,025,197,000			1,667,206,000	1,482,616,000
Funding Debt | 2018-1 Securitization Facility
Debt Instrument [Line Items]
Revolving period end date					2025-03
Maturity date					2026-03
Weighted average interest rates	[2]				9.58%
Borrowing capacity					$ 200,000,000
Total debt, outstanding								92,964,000	5,479,000
Funding Debt | 2018-2 Securitization Facility
Debt Instrument [Line Items]
Revolving period end date					2023-07
Maturity date	[3]				2025-07
Total debt, outstanding								66,110,000	116,039,000
Funding Debt | NCR 2022 Securitization Facility
Debt Instrument [Line Items]
Revolving period end date					2024-10
Maturity date					2026-10
Weighted average interest rates	[2]				10.09%
Borrowing capacity					$ 125,000,000
Total debt, outstanding					$ 84,927,000			43,975,000	33,215,000
Funding Debt | NCLOCR 2024 Securitization Facility
Debt Instrument [Line Items]
Revolving period end date					2027-02
Maturity date					2028-02
Weighted average interest rates	[2]				10.84%
Borrowing capacity					$ 150,000,000
Total debt, outstanding					$ 75,000,000
Funding Debt | ODR 2021-1 Securitization Facility
Debt Instrument [Line Items]
Revolving period end date					2025-11
Maturity date					2026-11
Weighted average interest rates	[2]				8.91%
Borrowing capacity					$ 233,333,000
Total debt, outstanding					$ 194,330,000			151,331,000	185,167,000
Funding Debt | ODR 2022-1 Securitization Facility
Debt Instrument [Line Items]
Revolving period end date					2026-06
Maturity date					2027-06
Weighted average interest rates	[2]				9.04%
Borrowing capacity					$ 420,000,000
Total debt, outstanding					$ 258,668,000			277,586,000	280,774,000
Funding Debt | RAOD Securitization Facility
Debt Instrument [Line Items]
Revolving period end date					2024-11
Maturity date					2025-11
Weighted average interest rates	[2]				8.13%
Borrowing capacity					$ 230,263,000
Total debt, outstanding					$ 230,263,000			142,110,000	212,263,000
Funding Debt | HWCR 2023 Securitization Facility
Debt Instrument [Line Items]
Revolving period end date					2025-05
Maturity date					2026-05
Weighted average interest rates	[2]				9.66%
Borrowing capacity					$ 287,214,000
Total debt, outstanding					$ 287,214,000			287,214,000	221,000,000
Funding Debt | ODAST III Securitization Notes
Debt Instrument [Line Items]
Revolving period end date					2024-04
Maturity date	[4]				2027-05
Total debt, outstanding								300,000,000	300,000,000
Funding Debt | 2023-A Securitization Notes
Debt Instrument [Line Items]
Maturity date					2027-12
Weighted average interest rates	[2]				7.78%
Borrowing capacity					$ 50,989,000
Total debt, outstanding					$ 50,989,000			78,865,000	128,679,000
Funding Debt | 2024-A Securitization Notes
Debt Instrument [Line Items]
Maturity date					2030-10
Weighted average interest rates	[2]				7.61%
Borrowing capacity					$ 217,181,000
Total debt, outstanding					$ 217,181,000
Funding Debt | ODAS IV 2023-1 Securitization Notes
Debt Instrument [Line Items]
Revolving period end date					2026-07
Maturity date					2030-08
Weighted average interest rates	[2]				7.66%
Borrowing capacity					$ 227,051,000
Total debt, outstanding					$ 227,051,000			227,051,000
Funding Debt | ODAS IV 2024-1 Securitization Notes
Debt Instrument [Line Items]
Revolving period end date					2027-05
Maturity date					2031-06
Weighted average interest rates	[2]				6.84%
Borrowing capacity					$ 399,574,000
Total debt, outstanding					$ 399,574,000
Corporate Debt
Debt Instrument [Line Items]
Weighted average interest rates	[2]				9.55%
Borrowing capacity					$ 1,290,000,000
Total corporate debt					$ 1,194,000,000			1,299,702,000	821,390,000
Corporate Debt | Revolving Line of Credit
Debt Instrument [Line Items]
Revolving period end date					2026-06
Maturity date					2026-06
Weighted average interest rates	[2]				8.86%
Borrowing capacity	[5]				$ 515,000,000
Revolving line of credit					$ 419,000,000			356,000,000	266,000,000
Corporate Debt | 11.25% senior notes due 2028
Debt Instrument [Line Items]
Maturity date					2028-12
Weighted average interest rates	[2]				11.25%
Borrowing capacity					$ 400,000,000
Senior notes					$ 400,000,000			400,000,000
Corporate Debt | 8.50% senior notes due 2025
Debt Instrument [Line Items]
Maturity date					2025-09
Weighted average interest rates	[2]				8.50%
Borrowing capacity					$ 375,000,000
Senior notes					$ 375,000,000			375,000,000	375,000,000
Corporate Debt | 8.50% senior notes due 2024
Debt Instrument [Line Items]
Maturity date					2024-09
Weighted average interest rates	[2]				8.50%
Senior notes								$ 168,702,000	$ 180,390,000
[1] Includes amounts in wholly-owned, bankruptcy-remote special purpose subsidiaries (“VIEs”) presented separately in the table below. The weighted average interest rate is determined based on the rates and principal balances on June 30, 2024 . It does not include the impact of the amortization of deferred loan origination costs or debt discounts. On May 31, 2024, the remaining outstanding balance on this facility was paid in full and the facility was terminated. On May 17, 2024, the remaining outstanding balance of these notes were paid in full and the facility was terminated. The Company had outstanding letters of credit under the Revolving line of credit of $ 0.7 million. $ 0.8 million and $ 0.8 million as of June 30, 2024 and 2023 and December 31, 2023 , respectively.

Long-term Debt - Summary of L_2

Long-term Debt - Summary of Long-Term Debt Instruments and Balances Outstanding Including Maturity Date, Weighted Average Interest Rate and Borrowing Capacity (Parenthetical) (Detail) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jan. 03, 2024
Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding amount	$ 0.7	$ 0.8	$ 0.8
11.25% senior notes due 2028
Debt Instrument [Line Items]
Debt instrument, interest rate	11.25%	11.25%	11.25%
Debt instrument, maturity period	2028	2028	2028
8.50% senior notes due 2025
Debt Instrument [Line Items]
Debt instrument, interest rate	8.50%	8.50%	8.50%
Debt instrument, maturity period	2025	2025	2025
8.50% senior notes due 2024
Debt Instrument [Line Items]
Debt instrument, interest rate	8.50%	8.50%	8.50%	8.50%
Debt instrument, maturity period	2024	2024	2024

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Detail) - USD ($)						3 Months Ended		6 Months Ended
	Jun. 27, 2024	Jun. 26, 2024	May 31, 2024	May 17, 2024	Feb. 21, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jan. 03, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Weighted average interest rates						9.26%	8%	9.26%	8%
Loss on extingiushment of debt								$ (1,013,000)	$ (271,000)
ODR 2022-1 Securitization Facility
Debt Instrument [Line Items]
Revolving period end date	2026-06
Maturity date	2027-06
Commitment amount	$ 420,000,000
ODR 2022-1 Securitization Facility | Class A Revolving Loan
Debt Instrument [Line Items]
Advance rate	72.50%	75%
Commitment amount	$ 338,000,000	$ 350,000,000
Debt instrument, borrowing rate	2.60%	1.75%
ODR 2022-1 Securitization Facility | Class B Revolving Loan
Debt Instrument [Line Items]
Commitment amount	$ 82,000,000	$ 70,000,000
2024-A Securitization Notes
Debt Instrument [Line Items]
Debt instrument, face amount			$ 217,200,000
Maturity date			2030-10
2024-A Securitization Notes | Class A Notes
Debt Instrument [Line Items]
Debt instrument, face amount			$ 172,500,000
Debt instrument, interest rate			7.43%
2024-A Securitization Notes | Class B Notes
Debt Instrument [Line Items]
Debt instrument, face amount			$ 44,600,000
Debt instrument, interest rate			8.31%
ODAS IV 2024-1 Securitization Notes
Debt Instrument [Line Items]
Debt instrument, face amount				$ 399,600,000
Maturity date				2031-07
ODAS IV 2024-1 Securitization Notes | Class A Notes
Debt Instrument [Line Items]
Debt instrument, face amount				$ 260,100,000
Debt instrument, interest rate				6.27%
ODAS IV 2024-1 Securitization Notes | Class B Notes
Debt Instrument [Line Items]
Debt instrument, face amount				$ 82,200,000
Debt instrument, interest rate				7.15%
ODAS IV 2024-1 Securitization Notes | Class C Notes
Debt Instrument [Line Items]
Debt instrument, face amount				$ 57,300,000
Debt instrument, interest rate				8.99%
NCLOCR 2024 Securitization Facility
Debt Instrument [Line Items]
Advance rate					85%
Commitment amount					$ 150,000,000
Revolving credit facilty period end date					Feb. 21, 2027
Debt instrument, maturity date					Feb. 21, 2028
Debt instrument, borrowing rate					5.50%
8.50% Senior Notes Due 2024
Debt Instrument [Line Items]
Remaining balance										$ 168,700,000
Debt instrument, interest rate						8.50%	8.50%	8.50%	8.50%	8.50%	8.50%
Debt instrument repurchase pricipal amount							$ 25,800,000		$ 69,600,000
Cash consideration for repurchase of notes							25,900,000		69,500,000
Loss on extingiushment of debt						$ 0	200,000	$ (500,000)	300,000
Tax related to extingushment of debt							$ 100,000	$ 400,000	$ 200,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Contingency [Line Items]
Effective tax rate	26%	24%
Unrecognized tax benefits	$ 193.4	$ 110.7	$ 179.3
Unrecognized tax benefits, after the classification of amounts in deferred tax assets			135.2
Unrecognized tax benefits for temporary items	179.8
Unrecognized tax benefits permanent component	13.6		9.9
Reduction to deferred tax assets			$ 44.1
Decrease in unrecognized tax benefits	$ 2.2
State Local And Foreign Jurisdiction Tax Authority
Income Tax Contingency [Line Items]
Statute of limitation period	3 years

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Reconciliation of Numerators and Denominators of Basic and Diluted Earnings per Share Computations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net income	$ 53,911	$ 48,145	$ 102,339	$ 99,068
Denominator:
Total weighted average basic shares	26,938	31,084	27,567	31,212
Shares applicable to stock-based compensation	1,003	1,119	1,155	1,244
Total weighted average diluted shares	27,941	32,203	28,722	32,456
Earnings per common share:
Earnings per common share - basic	$ 2	$ 1.55	$ 3.71	$ 3.17
Earnings per common share - diluted	$ 1.93	$ 1.5	$ 3.56	$ 3.05

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options not included in computation of diluted earnings per share	258,452	314,224	263,787	326,994
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options not included in computation of diluted earnings per share	5,577	590,064	2,788	468,129

Operating Segment Information -

Operating Segment Information - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) Segment	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)
Segment Reporting [Abstract]
Number of reportable segment	1
Number of operating segment	1
Property and equipment, net | $	$ 115,061	$ 108,705	$ 99,073

Operating Segment Information_2

Operating Segment Information - Summary of Company's Revenue by Geographical Region (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue [Abstract]
Revenue	$ 628,436	$ 499,431	$ 1,238,325	$ 982,687
United States
Revenue [Abstract]
Revenue	615,161	493,015	1,213,280	972,068
Other International Countries
Revenue [Abstract]
Revenue	$ 13,275	$ 6,416	$ 25,045	$ 10,619

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - Ondeck Australia - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Related Party Transaction [Line Items]
Due from affiliate balance		$ 100,000	$ 100,000
Outstanding balance from affiliates	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Transfer of assets, amount		$ 0		$ 0
Transfer of liabilities, amount	$ 0		$ 0
Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalent maturity period			90 days
Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities fair value recurring	0	0	$ 0	0	$ 0
Fair Value Measurements Nonrecurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities fair value recurring	0	0	0	0	0
Assets fair value non-recurring	$ 0	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Assets and Liabilities Measured on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Consumer loans and finance receivables	[1],[2]	$ 1,421,814	$ 1,380,784	$ 1,168,044
Small business loans and finance receivables	[1],[2]	2,517,345	2,248,383	1,924,401
Non-qualified savings plan assets	[3]	11,601	8,045	7,505
Investment in trading security	[4]	8,635	7,169	10,835
Total		3,959,395	3,644,381	3,110,785
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Non-qualified savings plan assets	[3]	11,601	8,045	7,505
Investment in trading security	[4]	8,635	7,169	10,835
Total		20,236	15,214	18,340
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Consumer loans and finance receivables	[1],[2]	1,421,814	1,380,784	1,168,044
Small business loans and finance receivables	[1],[2]	2,517,345	2,248,383	1,924,401
Total		$ 3,939,159	$ 3,629,167	$ 3,092,445
[1] Consumer and small business loans and finance receivables are included in “Loans and finance receivables at fair value” in the consolidated balance sheets. Consumer loans and finance receivables include $ 812.2 million , $ 695.1 million and $ 1,181.0 million in assets of consolidated VIEs as of June 30, 2024 and 2023 and December 31, 2023, respectively. Small business loans and finance receivables include $ 2,114.9 million , $ 1,288.0 million and $ 1,475.1 million in assets of consolidated VIEs as of June 30, 2024 and 2023 and December 31, 2023 , respectively. The non-qualified savings plan assets are included in “Other receivables and prepaid expenses” in the Company’s consolidated balance sheets and have an offsetting liability, which is included in “Accounts payable and accrued expenses” in the Company’s consolidated balance sheets. Investment in trading security is included in “Other assets” in the Company’s consolidated balance sheets.

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured on Recurring Basis (Parenthetical) (Detail) - Variable Interest Entity, Primary Beneficiary - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Consumer loans and finance receivables	$ 812.2	$ 1,181	$ 695.1
Small business loans and finance receivables	$ 2,114.9	$ 1,475.1	$ 1,288

Fair Value Measurements - Fin_2

Fair Value Measurements - Financial Assets and Liabilities Not Measured at Fair Value (Detail) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Carrying Value
Financial assets:
Cash and cash equivalents		$ 60,138	$ 54,357	$ 100,042
Restricted cash	[1]	211,167	323,082	161,619
Investment in unconsolidated investee	[2]	6,918	6,918	6,918
Total		278,223	384,357	268,579
Financial liabilities:
Revolving line of credit		419,000	356,000	266,000
Securitization notes		2,024,482	1,665,785	1,480,688
Total		3,215,141	2,961,771	2,302,078
Carrying Value | 8.50% Senior Notes Due 2024
Financial liabilities:
Senior notes			168,702	180,390
Carrying Value | 8.50% Senior Notes Due 2025
Financial liabilities:
Senior notes		375,000	375,000	375,000
Carrying Value | 11.25% senior notes due 2028
Financial liabilities:
Senior notes		396,659	396,284
Level 1 | Estimated Fair Value
Financial assets:
Cash and cash equivalents		60,138	54,357	100,042
Restricted cash	[1]	211,167	323,082	161,619
Total		271,305	377,439	261,661
Level 2 | Estimated Fair Value
Financial liabilities:
Securitization notes		2,029,972	1,660,596	1,463,685
Total		2,833,284	2,612,615	2,034,096
Level 2 | Estimated Fair Value | 8.50% Senior Notes Due 2024
Financial liabilities:
Senior notes			168,702	205,390
Level 2 | Estimated Fair Value | 8.50% Senior Notes Due 2025
Financial liabilities:
Senior notes		375,660	370,729	365,021
Level 2 | Estimated Fair Value | 11.25% senior notes due 2028
Financial liabilities:
Senior notes		427,652	412,588
Level 3 | Estimated Fair Value
Financial assets:
Investment in unconsolidated investee	[2]	6,918	6,918	6,918
Total		6,918	6,918	6,918
Financial liabilities:
Revolving line of credit		419,000	356,000	266,000
Total		$ 419,000	$ 356,000	$ 266,000
[1] Restricted cash includes $ 195.1 million , $ 145.8 million and $ 136.0 million in assets of consolidated VIEs as of June 30, 2024 and 2023 and December 31, 2023 , respectively. Investment in unconsolidated investee is included in “Other assets” in the consolidated balance sheets.

Fair Value Measurements - Fin_3

Fair Value Measurements - Financial Assets and Liabilities Not Measured at Fair Value (Parenthetical) (Detail) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jan. 03, 2024
Variable Interest Entity, Primary Beneficiary
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Restricted cash	$ 195.1	$ 145.8	$ 136
8.50% Senior Notes Due 2024
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument, interest rate	8.50%	8.50%	8.50%	8.50%
Debt instrument, maturity period	2024	2024	2024
8.50% Senior Notes Due 2025
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument, interest rate	8.50%	8.50%	8.50%
Debt instrument, maturity period	2025	2025	2025
11.25% senior notes due 2028
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument, interest rate	11.25%	11.25%	11.25%
Debt instrument, maturity period	2028	2028	2028